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Nykaa files DRHP with SEBI for IPO

The shares of the company are proposed to be listed on NSE and BSE

E-commerce beauty company Nykaa has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The shares of the company are proposed to be listed on NSE and BSE.

Proceeds of the fresh issue will be used towards investment in certain subsidiaries -- FSN Brands or Nykaa Fashion -- to set up a new retail store, capital expenditure, repayment of the debt, to enhance the visibility and awareness of its brands and general corporate purposes. Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, JM Financial and ICICI Securities have been appointed as merchant bankers to advise the company on the IPO.

Founded in 2012, Nykaa is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care and fashion products, including its owned brand products manufactured by it.